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Doubt : Indian paypal creation

Discussion in 'BlackHat Lounge' started by jackteam, Oct 11, 2015.

  1. jackteam

    jackteam Jr. VIP Jr. VIP

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    Hi BHW members I'm from india. I want to create paypal so which bank is very perfect for creating paypal in india?

    And One more thing. How much they will take commission for $.

    Can you help please?
     
  2. sam.hunt0710

    sam.hunt0710 Jr. VIP Jr. VIP

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    You can choose any bank account for creating a account for paypal.

    bank will not deduct any fees , paypal will do that thing.
     
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  3. puneetas3

    puneetas3 Senior Member

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    You can't use money in your bank to purchase something via paypal. You need to have a credit card to use paypal to buy something. You can draw money from paypal to any bank.
     
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  4. Gogol

    Gogol Jr. VIP Jr. VIP

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    ICICI, AXis, SBI, they all work for receiving money, tested. As for sending money, you would neeed a debit card/ credit card. For debit cards, you will need to enable these transfers ( not sure what it is called. Visit your nearby branch and ask them that you want to be able to use your card in paypal). As for credit cards, everything works.

    Btw, you can't even pay from your online account balance. Your balance will get auto debited to your bank account as per RBI norms.

    As for commisions, it is a double game. They will charge a small ptg ( like 4-5%, never counted) when you receive your money. Then when they convert it to INR, you will get much lesser amount than the current market ( e.g. 63 vs 66 in market).
     
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    Last edited: Oct 11, 2015
  5. jackteam

    jackteam Jr. VIP Jr. VIP

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    Thank you for your great information. Then which bank is better than others.

    I'm checking the $ price is INR in google that it shows above 63INR. Is paypal will transfer at least 60INR to my bank or only below 60INR?
     
  6. Gogol

    Gogol Jr. VIP Jr. VIP

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    I prefer ICICI personally. THey all are the same though. You will get 60.xx INR per dollar.
     
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  7. jackteam

    jackteam Jr. VIP Jr. VIP

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    Awesome. if i getting 2.5$ means, will i receive 150INR into my bank after the paypal commission right?
     
  8. Gogol

    Gogol Jr. VIP Jr. VIP

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    yupp. Your bank won't charge anything.
     
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  9. jackteam

    jackteam Jr. VIP Jr. VIP

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    Very useful and I gave you request bro Please accept that.
     
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  10. blackmint

    blackmint Power Member

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    Any bank works with PP.
    For example : If you are withdrawing from Fiverr instead of $4, only $3.92 reaches your account.
    During currency exchange you will get much lower amount for the Dollar.
    I do check regularly on xoom for their exchange rates to calculate the average price i may get per dollar.
    It was always much lesser.
     
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  11. jackteam

    jackteam Jr. VIP Jr. VIP

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    Any other methods to receive and transfer the money like paypal?
     
  12. Cryogenesis

    Cryogenesis Jr. VIP Jr. VIP

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    You can use Payoneer as an alternative to PayPal.
    And about the banks,go ahead with Axis bank dude. Best in the business and their customer care is top-notch!
    And no you don't need a credit card to buy something.

    I have my Debit card linked to my PP and that's how I do my transactions.
     
  13. niketan237

    niketan237 Newbie

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    its simple process man...google it you ll get step by step instruction
     
  14. REAL EMAIL ID

    REAL EMAIL ID Jr. VIP Jr. VIP

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    Its not decided by bank how much will you get from $1.
    Its depends upon currency exchange from dollar to rupees.
    If $1 = 64.75 rupees (Stock Exchange) you will get 62.65 rupees on your account 2.10 rupees will deduct from your money for currency convert from dollar to rupees.

    Also, if you wanna pay someone from Paypal or CC again currency convert from rupees to dollar it will add currency convert charges.
    So if you receive money then they will cut 2.10 rupees and if you pay someone they will add 2.10 rupees.
     
    Last edited: Oct 11, 2015
  15. blackmint

    blackmint Power Member

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    Can you tell me which Bank's Debit Card you are using ?
    Because i was unable to use my Axis Bank Debit Card.
     
  16. blackmint

    blackmint Power Member

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    I know that.
    Check prices with xoom.
    xoom's exchange prices are very high.
    if you want to send money to somebody use xoom.you will get high prices always.
    Xoom.com today rate is 1 USD = 64.2800 INR.

    But if you are withdrawing from PP you won't get these price.you will get around Rs.3 less.
     
  17. jackteam

    jackteam Jr. VIP Jr. VIP

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    Thank you all for taking your time to respond me.

    I have another one doubt.

    My friend already having one account created recently.

    He started service now and got paid to his paypal.

    But now they are in pending. It says that the payment become to pending for 21 days.

    why it happened?
     
  18. menerva

    menerva Newbie

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    It is because the account is limited. You have to do 20 successful transactions and one transaction over $200. But I'm not sure, just make a call to paypal toll free and get cleared with this thing buddy.
     
  19. jackteam

    jackteam Jr. VIP Jr. VIP

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    Yes thank you very much. I have contact with support members now.